US consumers are seeing historically low savings rates:

The US personal savings rate has declined -1.0 percentage point over the last 5 months, to 4.7%, the lowest since December 2024.

This is the 2nd-lowest reading since December 2022.

By comparison, the 5-year average before the pandemic stood at 6.1%, while the last 5-year average was 6.5%.

During the 1980s, savings as a % of disposable personal income averaged 9.8%.

This comes as declining wage growth and persistent inflation have squeezed household budgets, pushing savings lower while consumer debt continues to hit records every quarter.

The K-shaped economy is widening.

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